![Securities Premium cant be Taxed as Other Income u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-Delhi-Securities-Premium-Tax-Other-Income-Income-Tax-Act-ITAT-taxscan.jpeg "Securities Premium cant be Taxed as Other Income u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]")
Securities Premium can't be Taxed as 'Other Income' u/s 56(2)(viib) of Income Tax Act: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) has ruled that, Securities Premium can't be Taxed as "Other Income" u/s 56(2) (viib)...
![Non-Filing of Audit Report due to Virus Attack in System: ITAT Condones Delay [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Non-filing-Audit-Report-Virus-Attack-ITAT-Condones-Delay-taxscan.jpeg "Non-Filing of Audit Report due to Virus Attack in System: ITAT Condones Delay [Read Order]")
![Section 80A(5) cannot be invoked for denying Deduction u/s 80P even if ITR is not filed: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/deduction-ITR-ITAT-taxscan.jpeg "Section 80A(5) cannot be invoked for denying Deduction u/s 80P even if ITR is not filed: ITAT [Read Order]")
![Adjustment by way of Computer generated Automated Message u/s 143(l)(a) is a Debatable Issue: ITAT rejects Plea [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Adjustment-Computer-Debatable-Issue-ITAT-taxscan.jpeg "Adjustment by way of Computer generated Automated Message u/s 143(l)(a) is a Debatable Issue: ITAT rejects Plea [Read Order]")
![PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/PCIT-Assessment-Order-Interest-Revenue-ITAT-taxcan.jpeg "PCIT Fails to Mention as to How Assessment Order was Erroneous and Prejudicial to Interest of Revenue: ITAT sets aside Order issued u/s 263 [Read Order]")
Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]
In a recent ruling, the Delhi High Court has held that notice u/s 148A can’t sustain if it was issued by violation of the natural justice principle and quashed the notice issued by the AO. The...
![Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Delhi-High-Court-Notice-violation-natural-justiceprinciple-HC-taxscan.jpeg "Notice u/s 148 A can’t sustain if it was issued by Violation of Natural Justice Principle: Delhi HC [Read Order]")
ITAT allows TDS Credit in the Year of Accrual subject to Submission of Affidavit promising No Credit shall be Claimed in Future [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench comprising Shri Saktijit Dey, Judicial Member & Shri Pradip Kumar Kedia, Accountant Member has allowed TDS credit to the assessee in the...
![ITAT allows TDS Credit in the Year of Accrual subject to Submission of Affidavit promising No Credit shall be Claimed in Future [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/ITAT-TDS-Credit-Credit-Claim-taxscan.jpg "ITAT allows TDS Credit in the Year of Accrual subject to Submission of Affidavit promising No Credit shall be Claimed in Future [Read Order]")
Interim Relief to Bextar India: Delhi HC quashes demand of 8 cr, directs Fresh Adjudication [Read Order]
The Delhi High Court bench consisting of Justice Manmohan and Justice Manmeet Pritam Singh Arora quashed the demand of 8 crores and directs fresh adjudication in a matter relating to Baxter India. ...
![Interim Relief to Bextar India: Delhi HC quashes demand of 8 cr, directs Fresh Adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Assessment-non-existent-entity-void-ab-initio-Delhi-HC-Baxter-India-taxscan.jpeg "Interim Relief to Bextar India: Delhi HC quashes demand of 8 cr, directs Fresh Adjudication [Read Order]")
![Penalty u/s 271 alone will Not Exist after Deletion of Addition on Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Penalty-Addition-Income-ITAT-taxscan.jpeg "Penalty u/s 271 alone will Not Exist after Deletion of Addition on Income: ITAT [Read Order]")
Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the income from share transactions shall be treated as business income under the provisions of the Income Tax Act, 1961 since the...
![Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Sale-Trading-Business-Income-Assessee-Previous-Years-ITAT-Taxscan.jpeg "Income from Sale Trading is Business Income as Claimed by Assessee in Previous Years: ITAT [Read Order]")
No Addition for Deposits up to Rs. 250,000 during Demonetization by Salaried Person: ITAT deletes Addition against Cost Accountant [Read Order]
While deleting an addition against a Cost Accountant, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the same cannot be made against an Individual who is earning income...
![No Addition for Deposits up to Rs. 250,000 during Demonetization by Salaried Person: ITAT deletes Addition against Cost Accountant [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Demonetization-Salaried-Person-ITAT-Cost-Accountant-taxscan.jpg "No Addition for Deposits up to Rs. 250,000 during Demonetization by Salaried Person: ITAT deletes Addition against Cost Accountant [Read Order]")
New Proposals during Remand Proceedings inter-connected with the First Notice cannot be Quashed: Madras HC [Read Order]
The Madras High Court has held that the assessee has to answer the proposals contained in the show cause notice dated 20.12.2019, the content of which has been incorporated in the impugned show...
![New Proposals during Remand Proceedings inter-connected with the First Notice cannot be Quashed: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Notice-Madras-HC-taxscan.jpeg "New Proposals during Remand Proceedings inter-connected with the First Notice cannot be Quashed: Madras HC [Read Order]")